Your expiring policy(s), if any, have most likely been written under a CLAIMS-MADE POLICY.  The policy applies only to covered claims that occur between your retroactive date and the end of the policy period.  The policy applies only to claims first made against an insured and reported to us on or after the inception date and before the end of the policy period.

It is important that you maintain continuous coverage.  Failure to renew your coverage by your current policies expiration date will result in the loss of your current retroactive date (which provides prior acts coverage).  This means there will be no coverage for claims arising out of real estate activities, as defined in your policy, prior to any new retroactive date. Instead coverage, if any, will only apply to real estate activities that take place on or after any new retroactive date. 

If you are not renewing your coverage for any reason or decide to renew after your policy expiration date, you should consider purchasing an Extended Reporting Period Endorsement (“ERP Endorsement”), otherwise known as “tail coverage”.  You will need to contact your current insurance company for details on purchasing an ERP Endorsement.  The ERP Endorsement does not extend the policy period and does not change the scope of coverage under the expiring policy.